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Markets fall back as Covid-19 fears mount and US jobless claims rise – as it happened

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Rolling coverage of the latest economic and financial news

Time for a recap

Concerns over rising Covid-19 cases, particularly in the US, have weighed on markets.

Related: Peacocks and Jaeger businesses collapse into administration

Related: One in seven UK businesses in fear of collapse, survey shows

The Next Generation EU package must become operational without delay.

The package’s additional resources can facilitate expansionary fiscal policies, most notably in those euro area countries with limited fiscal space.

Today has been a difficult one for some UK gamers, and retailers who have been overwhelmed by demand for PlayStation’s latest console.

Sarah Butler has the story….

Web pages dedicated to the launch of the PlayStation 5 at John Lewis, Tesco and Game had all crashed on Thursday morning. Currys had introduced a queuing system that had tens of thousands of customers on hold on Thursday morning.

With much of their stock already sold via orders placed before the launch, Game, Currys, John Lewis and Argos all said they had sold out of the £449 console by 10.10am on Thursday.

Related: PlayStation 5 launch overwhelms outlets and courier firms

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